We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Progressive (PGR) Stock Sinks As Market Gains: What You Should Know
Read MoreHide Full Article
Progressive (PGR - Free Report) closed the latest trading day at $208.28, indicating a -1.14% change from the previous session's end. The stock's performance was behind the S&P 500's daily gain of 0.09%. Elsewhere, the Dow saw a downswing of 0.1%, while the tech-heavy Nasdaq appreciated by 0.16%.
The insurer's stock has climbed by 3.32% in the past month, exceeding the Finance sector's gain of 0.26% and the S&P 500's gain of 2.83%.
Market participants will be closely following the financial results of Progressive in its upcoming release. In that report, analysts expect Progressive to post earnings of $2.12 per share. This would mark year-over-year growth of 324%. Meanwhile, our latest consensus estimate is calling for revenue of $17.92 billion, up 17.72% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $11.34 per share and a revenue of $73.09 billion, representing changes of +85.6% and +18.35%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Progressive. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.26% lower. Progressive is currently a Zacks Rank #3 (Hold).
With respect to valuation, Progressive is currently being traded at a Forward P/E ratio of 18.59. This expresses a premium compared to the average Forward P/E of 12.75 of its industry.
We can also see that PGR currently has a PEG ratio of 0.81. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Insurance - Property and Casualty was holding an average PEG ratio of 1.63 at yesterday's closing price.
The Insurance - Property and Casualty industry is part of the Finance sector. With its current Zacks Industry Rank of 28, this industry ranks in the top 12% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Progressive (PGR) Stock Sinks As Market Gains: What You Should Know
Progressive (PGR - Free Report) closed the latest trading day at $208.28, indicating a -1.14% change from the previous session's end. The stock's performance was behind the S&P 500's daily gain of 0.09%. Elsewhere, the Dow saw a downswing of 0.1%, while the tech-heavy Nasdaq appreciated by 0.16%.
The insurer's stock has climbed by 3.32% in the past month, exceeding the Finance sector's gain of 0.26% and the S&P 500's gain of 2.83%.
Market participants will be closely following the financial results of Progressive in its upcoming release. In that report, analysts expect Progressive to post earnings of $2.12 per share. This would mark year-over-year growth of 324%. Meanwhile, our latest consensus estimate is calling for revenue of $17.92 billion, up 17.72% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $11.34 per share and a revenue of $73.09 billion, representing changes of +85.6% and +18.35%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Progressive. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.26% lower. Progressive is currently a Zacks Rank #3 (Hold).
With respect to valuation, Progressive is currently being traded at a Forward P/E ratio of 18.59. This expresses a premium compared to the average Forward P/E of 12.75 of its industry.
We can also see that PGR currently has a PEG ratio of 0.81. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Insurance - Property and Casualty was holding an average PEG ratio of 1.63 at yesterday's closing price.
The Insurance - Property and Casualty industry is part of the Finance sector. With its current Zacks Industry Rank of 28, this industry ranks in the top 12% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.